Aztecsoft announced a substantial drop in standalone net profit for the quarter ended March 2008 due to higher production & depreciation cost and marginal sales growth. During the quarter, the profit of the company declined 52.20% to Rs 33.60 million from Rs 70.30 million in the same quarter previous year.
The company posted earnings of Rs 0.79 a share during the quarter, registering 53.25% decline over previous year period.
Net sales for the quarter rose marginally 4.50% to Rs 600.90 million, while total income for the quarter rose marginally 4.38% to Rs 612.10 million, when compared with the prior year period.
During the quarter the company reported a substantial fall in operating margin of 773 basis points to 8.64% on lower production cost. On the other hand, there has been increase of 34.97% in depreciation charge to Rs 38.60 million over previous year period.
Shares of the company gained Rs 6.75, or 10.19%, to trade at Rs 73. The total volume of shares traded was 171,555 at the BSE (2.08 p.m., Wednesday).